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Beskrivning

LandKanada
ListaEuronext Growth Oslo
SektorRåvaror
IndustriOlja & gas
Zenith Energy är verksamma inom olje- och gassektorn. Bolaget är specialiserade inom prospektering samt vidare utvinning av olja- och naturgas. Störst andel av förnödenheterna består av råolja. Verksamhet återfinns inom Mellanöstern samt inom Azerbajdzjan där bolaget förfogar över större produktionsanläggningar. Kunderna består huvudsakligen av stora industriella aktörer runtom den globala marknaden.
2020-07-31 08:30:00
July 31, 2020

ZENITH ENERGY LTD.

(“Zenith" or the "Company")

Loan Facility for African Development 

Zenith Energy Ltd. ("Zenith" or the "Company") (LSE: ZEN; OSE: ZENA-ME), the
listed international oil & gas production company, is pleased to announce that
its Italian subsidiary has received approval to be awarded a legally binding
loan facility (the “Loan”) for an amount of approximately EUR 300,000 from an
Italian governmental entity. 

The Loan attracts an interest rate of 0.85 per cent, has a grace period of 24
months during which only the interest will be payable, normal financial
covenants, and a duration of 6 years. 

Under the terms of the Loan, all funds to be disbursed are to be utilised for
the purpose of the establishment of commercial activities in Africa,
specifically in the Republic of Congo and the broader West Africa region.  
 
The Company plans to file an application for a second loan facility of this
kind, designed to assist Italian commercial enterprises in the current
challenging financial climate, for the purpose of making infrastructural
investments in its Italian natural gas, condensate and electricity production
operations. 

Andrea Cattaneo, Chief Executive Officer of Zenith, commented:
“We are pleased to have received approval for this Loan, which has very
favourable conditions and will be used to further increase our investment in
Africa at this time, specifically in the Congo and the broader West Africa
region. 

Indeed, as publicly announced on June 16, 2020, we are currently in negotiations
with two pan-African financial institutions for a loan facility that will be
used to fund the acquisition and development of Zenith's growing portfolio in
West Africa.  

I look forward to updating shareholders on progress in due course.” 



Total Voting Rights

The Company wishes to announce, in accordance with the Financial Conduct
Authority's Disclosure Guidance and Transparency Rules, the following
information: 
 
Class of share	 
Total number of shares	 
Number of voting rights per share	 
Total number of voting rights per class of share
 
Common Shares in issue and admitted to trading on the Main Market of the London
Stock Exchange	313,400,824	1	313,400,824
Common Shares in issue and admitted to trading on the Merkur Market of the Oslo
Børs	852,072,921	1	852,072,921
 
Zenith holds 25,395,828 Common Shares in treasury. The above figure for total
number of Common Shares may be used by shareholders in the Company as the
denominator for the calculations by which they will determine if they are
required to notify their interest in, or a change to their interest in, the
Company under the Financial Conduct Authority's Disclosure Guidance and
Transparency Rules.



Further Information:
Zenith Energy Ltd. 	
Andrea Cattaneo, Chief Executive Officer	Tel: +1 (587) 315 9031
	E-mail: info@zenithenergy.ca





Notes to Editors: 

Zenith Energy Ltd. is an international oil and gas production company, listed on
the London Stock Exchange (LSE:ZEN) and the Merkur Market of the Oslo Stock
Exchange (ZENA:ME).
Zenith's development strategy is to identify and rapidly seize value-accretive
hydrocarbon production opportunities in the onshore oil & gas sector,
specifically in Africa. The Company's board of directors and senior management
team have the experience and technical expertise to develop the Company
successfully.